Stock prices fell sharply as a reversal in tech shares such as Apple and Netflix drove the S&P 500 index down more than 4% Conversely, some of the stocks hardest hit by the pandemic, such as Macy's and Carnival Cruise Line, rose.
Angela Weiss/AFP via Getty ImagesA reversal in high-flying tech stocks sent major indexes sharply lower Thursday.Stocks experienced their worst day since June, with a sudden plunge Thursday in big tech shares such as Apple and Amazon driving the S&P 500 index down 3.5% and the Dow Jones Industrial Average down 2.8%.
It was those same high-flying tech companies that led the drop in the market, with Apple down by 8% and Microsoft losing more than 6%. The electric carmaker Tesla, which has become a favorite of day traders, lost 9%."The stock market has run a long way in a short amount of time, particularly in the technology sector. A pause to catch its breath is normal and healthy," said Greg McBride, chief financial analyst at Bankrate.com.There's More Big Tech In Your Life Than You Even Know.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock Market Sell-Off: Dow Plunges 800 Points, S&P 500 Falls 3.5%The Dow dropped 800 points today, while the S&P 500 fell 3.6% by skleb1234
Read more »
Stocks plunge, with the Dow dropping more than 800 points as tech shares snap a 10-day win streakStocks fell sharply on Thursday, retreating from all-time highs as tech — the market leader since the rebound began in late March — suffered its biggest drop in months. The Dow fell 2.79%. The S&P 500 was down 3.52%. The NASDAQ fell 4.96%.
Read more »
Stock market bloodbath: Dow and Nasdaq plungeThe Nasdaq Composite tumbled nearly 5% and the Dow fell 700 points Thursday as investors made a dash for the exits following a streak of record-setting days over the past several weeks.
Read more »
Stock Market Sell-Off: Dow Plunges 750 Points, S&P 500 Falls 3.5%The Dow plunged 600 points this morning while the S&P 500 fell 3% by skleb1234
Read more »
Dow tanks 808 points as tech-stock exodus drives worst day since June - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Stock market bloodbath: Dow and Nasdaq plummet in the worst day since JuneIt was a wild day on Wall Street. The Nasdaq Composite tumbled nearly 5% and the Dow fell more than 800 points, as investors made a dash for the exits following a streak of record-setting days over the past several weeks.
Read more »